COMMISSIONER OF INCOME TAX Vs. BACHRAJ DUGAR

JUDGEMENT

(1.) IN compliance with the order passed by this court in C.R, No. 8(M) of 1993, the following question has been referred for this court's opinion :

(2.) AGGRIEVED by the same, the Revenue had approached this court for calling for a statement of the case in C. R. No. 8(M) of 1993. Accordingly, as directed by this court, the statement of case has been placed with the question as quoted above for this court's opinion. Section 21 of the General Clauses Act reads as follows :

(3.) EVEN in Escorts Ltd.'s case, 1993 199 ITR 43 , the Supreme Court has not given retrospective effect. It has merely explained the existing position as is evident from the following passage (page 66) :